tl;dr
Stock index futures slipped on Tuesday as investors await another wave of mega-cap earnings and the Federal Reserve decision on rate cuts slated for tomorrow. S&P 500 futures (SPX) -0.1%, Nasdaq 100 futures (US100:IND) -0.2% and Dow futures (INDU) were unchanged. Wall Street traders and investors wa...
Stock index futures slipped on Tuesday as investors await another wave of mega-cap earnings and the Federal Reserve decision on rate cuts slated for tomorrow. S&P 500 futures (SPX) -0.1%, Nasdaq 100 futures (US100:IND) -0.2% and Dow futures (INDU) were unchanged. Wall Street traders and investors watched the benchmark averages close higher on Monday after markets rallied in the previous trading week. "Markets got the week off to a decent start yesterday, with the S&P 500 ( 0.32%) building on last week’s advance as we await the Fed’s decision tomorrow and an array of earnings releases," said Deutsche Bank's Jim Reid. The 10-year Treasury yield (US10Y) rose 2 basis points to 4.63%. The 2-year yield (US2Y) was unchanged at 4.99%. "The lack of any bad news on inflation supported government bonds on both sides of the Atlantic, with some added support from the fall in energy prices," said Reid. Traders are keenly waiting for Jerome Powell's press conference scheduled for Wednesday and the Fed's decision on its monetary policy. The Fed meeting has started today and will conclude tomorrow. It is widely expected that the Fed will hold rates. Amazon (AMZN) is set to report its quarterly results after the bell today, along with Starbucks (SBUX) and Super Micro Computer (SMCI). Turning to the economic calendar, the Q1 employment cost index is expected to come before the bell, and economists see the index to grow by 1%. "We expect today's first quarter employment costs report to show that the disinflation trend remains intact, reassuring the FOMC this week that policy still is restrictive enough," said Pantheon Macroeconomics. The April Chicago PMI is scheduled a little after the market opens and is seen to tick up to 44.9. "After falling for four consecutive months, we think that the Chicago PMI is overdue a small increase, particularly since the Fed’s regional manufacturing PMIs have generally improved," said Pantheon Macro. Also ahead of trading, the February Case-Shiller housing price index is due. Economists expect a 6.7% year-on-year rise. After the start of trading the April Chicago PMI hits. The forecast is for a rise to 44.9. Later, the April consumer confidence is due and is forecasted to inch down to 104.
More about Amazon.com Inc
Amazon.com, Inc. is an American multinational technology company which focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. It is one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Microsoft, and Facebook. The company has been referred to as one of the most influential economic and cultural forces in the world, as well as the world's most valuable brand.
Industry: TRADE & SERVICES
Sector: RETAIL-CATALOG & MAIL-ORDER HOUSES
Market Cap: 1,882,472,710,000
P/E Ratio: 62.4
Dividend Yield: None
Beta: 2.9
EPS: 55.78
Price/Sales: 0.0529
Shares Outstanding: 574,784,995,000
Forward P/E: 198.71
Profit Margin: 50.69
ROE: 0.139
More about Starbucks Corporation
Starbucks Corporation is an American multinational chain of coffeehouses and roastery reserves headquartered in Seattle, Washington. As the world's largest coffeehouse chain, Starbucks is seen to be the main representation of the United States' second wave of coffee culture.
Industry: TRADE & SERVICES
Sector: RETAIL-EATING & DRINKING PLACES
Market Cap: $100.00B
Price: $23.62
Change: 2.2
Change (%): 3.74%
Volume: 32.07
Dividend Yield: 0.117
Revenue: $36.69B
P/E Ratio: 102.95
EPS: 0.216
Shares Outstanding: 0.082B
More about Super Micro Computer Inc
Company: Super Micro Computer Inc
Industry: Technology
Sector: Electronic Computers
Market Cap: $521.30 billion
Current Price: $69.45
Dividend Yield: None
P/E Ratio: 12.82
52-Week High: $173.37
52-Week Low: $79.20
EPS: $9.35
Revenue: $9.74 billion
Debt/Equity: 0.624
Price/Book: 1.032
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